GCash implements one-month loan repayment grace period for storm-affected borrowers

October 30, 2024
12:12PM PHT

In response to the devastation caused by Severe Tropical Storm Kristine (international name: Trami), GCash, through its credit arm Fuse Lending, has announced a one-month grace period for loan repayments.

This initiative aims to assist borrowers in storm-hit areas across Regions V, VIII, XII, and Calabarzon.

Loan payments due between Oct. 16 and Nov. 7 will be automatically extended by one month, with no additional interest or late fees.

For example, a loan originally due on Oct. 22 will now be payable on Nov. 22, with all subsequent due dates adjusted accordingly. Borrowers will receive SMS notifications about their new due dates and repayment options.

"We stand with the communities affected by Severe Tropical Storm Kristine and are committed to helping them rebuild their lives," Fuse Lending president and CEO Tony Isidro said. "Every single effort  counts, and together, we can make a significant difference.”

The monthlong grace period will be applicable for GCash borrowers from specific areas afflicted by Tropical Storm Kristine. 

GCash announcement on the one-month grace period for loans of borrowers in affected areas./Contributed Photo 

In the Calabarzon region,  these areas include various towns in Quezon province: General Luna, Lucban, Lopez, Mulanay, and Tagkawayan. Cavite towns like Noveleta, Kawit, Imus, Ternate, General Trias, Bacoor, Tanza, and Silang are also covered.

Batangas residents in Lemery, Laurel, Calatagan, Lipa, Alitagtag, Cuenca, Agoncillo, Talisay, and Tanauan are included. In Laguna, the towns are Biñan, Sta. Cruz, San Pedro, Santa Rosa, and Cabuyao.

For Region V, all towns in Albay, Camarines Norte, Camarines Sur, Catanduanes, Sorsogon, and San Fernando, Masbate, are on the list.

Meanwhile, in Region VIII, the extension covers specific towns in Eastern Samar: Arteche, Borongan, Can-avid, Dolores, Jipapad, Maslog, Maydolong, Oras, San Policarpo, San Julian, Sulat, and Taft. Additionally, the town of Calbayog in Samar qualifies.

Finally, in Region XII, only the town of Magpet in Cotabato is eligible for the grace period.

Some charities that are accepting donations for storm-hit Filipinos via GCash./Contributed Photo

#TulongMoGCashMo mobilizes aid and donations

GCash is also facilitating donations to aid recovery efforts through its #TulongMoGCashMo campaign. Users can donate directly to NGOs, including the Philippine Red Cross, UNICEF, and Caritas Manila, via the GCash app.

The platform has waived transaction fees for these contributions, ensuring that donations fully reach those in need.

Emphasis on safe donations

GCash urged users to donate only through official channels to avoid falling victim to scams. Customers are reminded not to share sensitive information like MPINs or OTPs, and to verify the authenticity of donation drives.

This grace period and fundraising initiative underscore GCash’s commitment to supporting communities in times of crisis, fostering a spirit of bayanihan among Filipinos, the firm said.

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